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Finance Firms Fear No-Deal Brexit Will Hit Data Transfers

Law360, London (March 6, 2019, 4:12 PM GMT) -- Financial services companies fear that a no-deal Brexit will create headaches, and financial penalties, when it comes to dealing with data transfers from European Union countries to the U.K., a survey by EY revealed on Wednesday.

A poll by the auditing company of senior management from more than 200 finance firms across Europe and the United States with business interests in the British market found that 24 percent, almost a quarter, of respondents said the question of data transfers across borders was one of their top worries as Brexit approaches.

Those fears are not unfounded, according to the London-based professional services...

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